Death During Active Service. If the Executive dies in active service to the Bank, the Executive’s Beneficiary shall be entitled to (a) an amount in cash equal to the Accrual Balance at the time of the Executive’s death, and (b) the benefit, if any, provided by the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Bank of Wilmington CORP), Salary Continuation Agreement (Bank of Wilmington CORP), Salary Continuation Agreement (Bank of Wilmington CORP)
Death During Active Service. If the Executive dies in active service to the BankBank before the Normal Retirement Age, the Executive’s Beneficiary shall be entitled to (a) an amount in cash equal to the Accrual Balance at the time of the Executive’s deathdeath (unless the Change-in-Control benefit under Section 2.4 shall have previously been paid), and (b) the benefit, if any, provided by benefit described in the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.A.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Oak Ridge Financial Services, Inc.), Salary Continuation Agreement (Oak Ridge Financial Services, Inc.), Salary Continuation Agreement (Oak Ridge Financial Services, Inc.)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the BankBank before the Normal Retirement Age, the Bank shall pay to the Executive’s Beneficiary shall be entitled to (a) an amount in cash equal to the Accrual Balance at the time of the Executive’s death, and (b) the benefit, if any, provided by benefit described in the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.A.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp), Salary Continuation Agreement (Midcarolina Financial Corp)
Death During Active Service. If the Executive dies in active service to the BankBank before the Normal Retirement Age, the Executive’s Beneficiary shall be entitled to (a) an amount in cash equal solely to the Accrual Balance at benefit described in the time of the Executive’s deathJanuary 1, and (b) the benefit, if any, provided by the Endorsement 2002 Split Dollar Agreement attached to this Agreement as Addendum A, as between the same may be amendedBank and the Executive.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc), Salary Continuation Agreement (Newmil Bancorp Inc)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the BankBank before the Normal Retirement Date, the Bank shall pay to the Executive’s Beneficiary shall be entitled to (a) an amount in cash equal to the Accrual Balance at the time end of the Plan Year preceding the year of the Executive’s death, unless the Change-in-Control benefit shall have previously been paid to the Executive under Section 2.4, and (b) the benefit, if any, provided by benefit described in the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.A.
Appears in 2 contracts
Samples: Continuation Agreement, Salary Continuation Agreement (BNC Bancorp)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the BankBank before the Normal Retirement Age, the Bank shall pay to the Executive’s 's Beneficiary shall be entitled to (a) an amount in cash equal to the Accrual Balance at the time of the Executive’s 's death, and (b) the benefit, if any, provided by benefit described in the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.A.
Appears in 2 contracts
Samples: Continuation Agreement (Citizens South Banking Corp), Continuation Agreement (Citizens South Banking Corp)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the Bank, the Bank shall pay to the Executive’s Beneficiary shall be entitled to =s beneficiary(ies) (a) an amount in cash equal to the Accrual Balance at the time end of the Plan Year preceding the year of the Executive’s =s death, and (b) the benefit, if any, provided by benefit described in the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.A.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Crescent Financial Corp), Salary Continuation Agreement (Crescent Financial Corp)
Death During Active Service. If the Executive dies in active service to the BankBank before the Normal Retirement Date, including active service as a consultant, the Executive’s Beneficiary shall be entitled to (a) an amount in cash equal to the Accrual Balance at the time of the Executive’s death, and (b) the benefit, if any, provided by the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.
Appears in 1 contract
Samples: Salary Continuation Agreement (Bank of Wilmington CORP)
Death During Active Service. If Except as provided in Section 5.2, if the Executive dies in active service to the BankBank before the Normal Retirement Date, the Bank shall pay to the Executive’s Beneficiary shall be entitled to =s beneficiary(ies) (a) an amount in cash equal to the Accrual Balance at the time end of the Plan Year preceding the year of the Executive’s =s death, and (b) the benefit, if any, provided by benefit described in the Endorsement Split Dollar Agreement attached to this Agreement as Addendum A, as the same may be amended.A.
Appears in 1 contract
Samples: Salary Continuation Agreement (Crescent Financial Corp)
